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🔥🩳🔥 **Misinformation Clarified:** #AMC DEBT COVENANTS
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The **debt covenant waivers** are set to expire on March 31, 2024**. This is not a concern.
In **2020**, the company secured a loan through revolving credit facilities**. The repayment timeline was subsequently extended, as indicated in the amendment.
As of **2023**, the records confirm that the **revolving credit** has been fully repaid.
The upcoming date signifies the possibility for the credit agreement to be either extended or replaced.
There is no need for renewal or additional funding from the **Revolving Credit Facility** as there is no outstanding debt.
**End of Misinformation.**
🔥🩳🔥 [color=red]THIS IS HOW FCKN DESPERATE HEDGE FUNDS ARE, TO SPREAD 100% LIES❗️❗️❗️❗️
#AMC Cinema’s Senior Lenders Meet to Discuss Chain’s Debt Options
The group is weighing options including making a proposal to AMC about how to tackle the company’s debt, said the people, who asked not to be identified discussing a private meeting. The deliberations are at an early stage and no final decision has been made. A spokesperson for AMC declined to comment.
The lenders have met before, but their discussions have gained urgency given the weak slate of movies expected from Hollywood this year. AMC has about $4.6 billion in long-term debt. The lenders are represented by the law firm of Gibson, Dunn & Crutcher, which didn’t respond to a request for comment.
Movie ticket sales in the US and Canada have remained stubbornly below pre-Covid levels, stalling the recovery of theater chains that were closed during the pandemic. Through last weekend, North American ticket sales were down almost 10% from 2023 levels, according to researcher Comscore Inc.
Earlier this year, AMC rival Cineworld Group, operator of the Regal chain in the US, emerged from bankruptcy. Metropolitan Theaters filed for Chapter 11 late last month.
Without a debt restructuring, AMC’s repayment obligations will balloon in 2026, when $3 billion comes due. The Leawood, Kansas-based company took on billions of dollars in debt in recent years to fund an acquisition spree that created the world’s largest cinema chain.
AMC avoided bankruptcy during the pandemic when retail investors bid up its shares, allowing Chief Executive Officer Adam Aron to raise much-needed capital.
The CEO has since courted retail investors, meeting with them for exclusive screenings at theaters, accepting cryptocurrency and selling limited-edition popcorn buckets.
During the pandemic, when so-called meme stocks were soaring, AMC traded as high as $450. It closed Friday at $4.08.
In February, AMC reported fourth-quarter profit that missed analysts’ estimates — underscoring the company’s shaky finances since the pandemic. Earnings before interest, taxes, depreciation and amortization came to $42.5 million, missing the $46.7 million analysts were forecasting.
Higher interest payments increased the company’s cash burn in the period, Bloomberg Intelligence analyst Geetha Ranganathan wrote after the results came out.
As a result of the tough 2023, the board cut Aron’s target pay by 25%, with the CEO acknowledging on a call that it was “not a good year for our shareholders.”
--With assistance from Erin Hudson.
https://finance.yahoo.com/news/amc-cinema-senior-lenders-meet-210341178.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
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Here's my Summary to clarify the situation:
— Frank's Place (@Franks_Place_) March 23, 2024
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**Misinformation Clarified:**#AMC DEBT COVENANTS
👇👇👇👇👇✌️✌️👇👇👇👇👇
The **debt covenant waivers** are set to expire on March 31, 2024**. This is not a concern.
In **2020**, the company secured a loan through… pic.twitter.com/7mcSO2gAEs
THIS IS HOW FCKN DESPERATE HEDGE FUNDS ARE, TO SPREAD 100% LIES❗️❗️❗️❗️#AMC Cinema’s Senior Lenders Meet to Discuss Chain’s Debt Options
— Frank's Place (@Franks_Place_) March 22, 2024
The group is weighing options including making a proposal to AMC about how to tackle the company’s debt, said the people, who asked not to… pic.twitter.com/uXd0KpvgLs
🔥🩳🔥 $AMC CITADEL $200B DEBT PROBLEM! Short Squeeze Update
(Bloomberg) --
— McSqueezyTheCow (@McSqueezyTheCow) September 30, 2023
"Ken Griffin’s $43 billion Citadel updated its liquidity terms this year for all investors, reverting to a formula that under certain circumstances limits quarterly withdrawals to 6.25%"
---
Just a friendly reminder that in December of 2021, #Citadel was doing… pic.twitter.com/G7vOOt7gCb
Citadel is slipping further and further into a massive debt hole. Pledged and collateralized over $200 BILLION in debt bearing assets in 2023.
— biotech_moose (@biotech_moose) March 24, 2024
Citadel investors should think about exiting to avoid future losses!
#AMC #GME pic.twitter.com/d2KvivpwJQ
Here's my Summary to clarify the situation:
— Frank's Place (@Franks_Place_) March 23, 2024
🚨🚨🚨🔥🔥🔥🚨🚨🚨
**Misinformation Clarified:**#AMC DEBT COVENANTS
👇👇👇👇👇✌️✌️👇👇👇👇👇
The **debt covenant waivers** are set to expire on March 31, 2024**. This is not a concern.
In **2020**, the company secured a loan through… pic.twitter.com/7mcSO2gAEs
Keep on piling on, Short interest position increase of ~60% in 3 months! Highest FTD volumes at ~$4.07 & $3.94 price points 🤣 >50-57% SI on the day w/out Cboe’s contribution to reports!!! pic.twitter.com/S40umTg42o
— AMC (matt wertz) 🇺🇸 (@Mattstradameus) March 14, 2024
MAY 31, 2024 C.A.T. 🐈 😻 SYSTEM FULLY IMPLEMENTS (Consolidated Audit Trail, bread crumbs on orders, naked shorts tracking, etc)
— The Butcher of Wall Street Marcel Kalinovic (@BossBlunts1) March 24, 2024
MAY 28th, TRADE SETTLEMENT REPORTING REDUCES TO T+1 (TRADING DAY + 1 BUSINESS DAY) ☠️ 🧨🎆
Market makers and hedge funds need to get their shit… https://t.co/ur2Hb16mVE pic.twitter.com/JgsclnoWMV
Banking layoffs increasing.
— AKM (@akm515) March 12, 2024
A major bank just told multiple employees that they're being terminated.
They see troubling signs in the economic data.
🔥🩳🔥 $AMC SHORTS ARE SINKING! $104B PROBLEM! Short Squeeze Update
Real reason why we saw $AMC price drop on Friday pic.twitter.com/L6xYEkbZkX
— 💎Practical Stocks🦍🚀 (@Practicalstocks) March 23, 2024
#AMC why do they not like #Retail #RetailInvestors #Crime How much do they get paid to write this BS? By the way if you’re one of them, I want nothing to do with you. Block yourself! https://t.co/cQiJFkPx6S pic.twitter.com/bqJjZ3USim
— FAFO Up!Up!Up! (@yougotthis1111) March 23, 2024
THIS IS HOW FCKN DESPERATE HEDGE FUNDS ARE, TO SPREAD 100% LIES❗️❗️❗️❗️#AMC Cinema’s Senior Lenders Meet to Discuss Chain’s Debt Options
— Frank's Place (@Franks_Place_) March 22, 2024
The group is weighing options including making a proposal to AMC about how to tackle the company’s debt, said the people, who asked not to… pic.twitter.com/uXd0KpvgLs
Another hit story about AMC.
— biotech_moose (@biotech_moose) March 23, 2024
"AMC Cinema’s Senior Lenders Meet to Discuss Chain’s Debt Options".#AMC has ~$860 million cash on hand & the 2026 10%/12% PIK loan is no issue. The next large debt note is due in 2029. Why meet 5 yrs early, Who is worried?
Spoiler: Goldman Sachs pic.twitter.com/eY98Za7FhO
$C Deez Nuts!
— FlippingTables21:12 (@FlippingTables8) March 11, 2024
Shitty Bank had 104.6 Billion Securities Sold Not Purchased For 2023!
Citi Did Not Allow Financial Advisors To Recommend Shares of $GME #GME & $AMC #AMC As Did $WFC During Trading Halts!
Not to mention Shitty recently hired the Boston Consulting Group who was… pic.twitter.com/qmhFV0phcu
Citi net income down over 173% YoY! #AMC #IYKYKhttps://t.co/u7xv4LsoYg
— Christalball (@Christalball93) March 23, 2024
OOOOF talk about a sinking ship #ShittyBank #AMC https://t.co/WvglgUDvnk
— Christalball (@Christalball93) March 23, 2024
Funny how companies are letting go left and right...but amc is hiring...hmm. $AMC https://t.co/f1X2fXZ5Bz
— Robert M. (@RobertM59744294) March 23, 2024
The Silverback has big plans. Shorts have no clue. He likes it that way. Silence is golden. But there are little hints, if you know where to look...#AMC #ChokeOnThathttps://t.co/sd0CF5zOwQ
— Christalball (@Christalball93) March 23, 2024
🔥🩳🔥 $AMC $AMC Lenders Meet Up to Discuss AMC Debt Options - Live @Tony_Denaro with @MarketsWithMay
If you missed it last night I highly recommend viewing this video
$AMC Lenders Meet Up to Discuss AMC Debt Options - Live @Tony_Denaro with @MarketsWithMay
— Wall Street Kid's A Ape (@ApeOnIhub) March 23, 2024
If you missed it last night I highly recommend viwing this video
https://t.co/E2wgF5iS0M pic.twitter.com/92P6QD6Aeo
🔥🩳🔥 $AMC FUD BUSTERS - AMC Debt Covenant Waiver "Deadline" March 31, 2024. Is it true that AMC has a debt covenant waiver expiration date of March 31, 2024, and if so, should investors be concerned that we have not heard anything from the company yet here in late March 2024.
Let's recap again this issue, referencing footnotes from the 2023 10-K filing.
Is it true that AMC has a debt covenant waiver expiration date of March 31, 2024, and if so, should investors be concerned that we have not heard anything from the company yet here in late March 2024.
— Wall Street Kid's A Ape (@ApeOnIhub) March 23, 2024
Let's recap again this issue, referencing foo....https://t.co/wEubT0q6k7 pic.twitter.com/Ebl51F2x2Y
Definitely harder than I expected it to be, but I passed. Prep book barely helped, thank god for 30 years of knowledge and an Econ/Finance background #SIEexam pic.twitter.com/AgBBONuzTp
— Tony Denaro (@Tony_Denaro) May 1, 2023
🔥🩳🔥 $AMC Borrowed shares currently
100 shares
🔥🩳🔥 Reverse Repo Operations
478.531
🔥🩳🔥 #AMC
connect the dots......
Cato Institute Center for Monetary and Financial Alternatives
📢📢📢📢🍿🍿🍿📢📢📢
Increasing Accountability and Transparency of the SEC to Lawmakers and the Public
Holding the SEC to High Standards in the Exercise of its Functions
It is often said that the U.S. financial markets are the largest, deepest and most liquid in the world.
Jennifer J. Schulp, the Director of Financial Regulation Studies at the Cato Institute, has been involved in several significant events and discussions related to the GameStop stock phenomenon.
Congressional Hearings: On February 18, 2021, she was one of six witnesses to give testimony at the congressional hearing titled "Game Stopped?
Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide"
1. The other witnesses included Vlad Tenev (CEO and Co-Founder of Robinhood Markets, Inc.), Kenneth Griffin (CEO of Citadel), Gabriel Plotkin (CEO of Melvin Capital), Steve Huffman (CEO and Co-Founder of Reddit), and Keith Gill (a retail investor also known as “roaringkitty”).
Articles and Testimonies: Schulp has written several articles and testimonies on the GameStop event:“GameStop’s Power to the People: Celebrating the Investor Revolution in the Making” (January 28, 2021)
2.“Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide” (February 18, 2021)
3.“GameStop and the Rise of Retail Trading” (Fall of 2021)
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4.Alleged Connections: There are claims that Schulp is indirectly connected to several key figures in the financial industry, including Hester Peirce, Kenneth C. Griffin, Jeff Yass, and Steve Cohen. However, these connections are based on her position at the Cato Institute and her public statements, and should be interpreted with caution.
Regulatory decision-making by the Securities and Exchange Commission (SEC or Commission)—whether in the form of promulgating rules, providing guidance, or bringing enforcement actions—directly impacts those U.S. securities markets.
The Commission’s reach is vast. It oversees the annual trading of approximately $118 trillion in U.S. equities markets, $2.8 trillion in exchange-traded options, and $237 trillion in fixed income markets.
Disclosures and financial statements of more than 5,000 exchange-listed public companies with an aggregate market capitalization of $51 trillion are subject to SEC regulation and review.
The SEC regulates the activities of more than 29,000 registered entities (including investment advisers, brokerdealers and investment companies), who employ at least one million individuals. And the SEC oversees twenty-four national securities exchanges, nine credit rating agencies, seven registered clearing agencies, the Public Company Accounting Oversight Board, and the Financial Industry Regulatory Authority, among other non-governmental organizations.
link
Microsoft Word - SEC Reform Testimony -- Final 3.19.24 (http://cato.org)
link
GAME STOPPED? WHO WINS AND LOSES WHEN SHORT SELLERS, SOCIAL MEDIA, AND RETAIL INVESTORS COLLIDE | http://Congress.gov | Library of Congress
🔥🩳🔥 #AMC Off Exchange & Dark Pool Summary
Today's Off Exchange & Dark Pool volume is 1,821,939, which is 58.00% of today's total volume.
Today's Lit volume is 1,319,503, which is 42.00%.
Over the past 30 days, the average Off Exchange & Dark Pool volume has been 49.70%.
The average Lit volume has been 50.30%
🔥🩳🔥Margin Statistics Feb-24
#AMC
FINRA member firms carrying margin accounts for customers are required to submit, on a settlement date basis, as of the last business day of the month, the following customer information:
the total of all debit balances in securities margin accounts; and
the total of all free credit balances in all cash accounts and all securities margin accounts.Margin Statistics Feb-24
#AMC
FINRA member firms carrying margin accounts for customers are required to submit, on a settlement date basis, as of the last business day of the month, the following customer information:.
🔥🩳🔥AMC borrowed shares currently
ZERO
AMC Borrowed shares currently
— Frank's Place (@Franks_Place_) March 22, 2024
100 shares pic.twitter.com/PSf6kgAIum
Reverse Repo Operations
— Frank's Place (@Franks_Place_) March 22, 2024
478.531 pic.twitter.com/dPwtfmb19m
#AMC
— Frank's Place (@Franks_Place_) March 22, 2024
connect the dots......
Cato Institute Center for Monetary and Financial Alternatives
📢📢📢📢🍿🍿🍿📢📢📢
Increasing Accountability and Transparency of the SEC to Lawmakers and the Public
Holding the SEC to High Standards in the Exercise of its Functions
It is often said… pic.twitter.com/CMflRfdTTg
#AMC Off Exchange & Dark Pool Summary
— Frank's Place (@Franks_Place_) March 22, 2024
Today's Off Exchange & Dark Pool volume is 1,821,939, which is 58.00% of today's total volume.
Today's Lit volume is 1,319,503, which is 42.00%.
Over the past 30 days, the average Off Exchange & Dark Pool volume has been 49.70%.
The average… pic.twitter.com/0RtGggXfkr
Margin Statistics Feb-24#AMC
— Frank's Place (@Franks_Place_) March 22, 2024
FINRA member firms carrying margin accounts for customers are required to submit, on a settlement date basis, as of the last business day of the month, the following customer information:
the total of all debit balances in securities margin… pic.twitter.com/awAd76GE3S
AMC borrowed shares currently
— Frank's Place (@Franks_Place_) March 22, 2024
ZERO pic.twitter.com/azGpVW9Hpu
🔥🩳🔥 PART 1
Why #AMC Entertainment Avoided A Pandemic Bankruptcy
For you Hedgies!
Adam Aron, chairman and CEO, explains his approach as head of the world’s largest theater chain: 'there's no shame in bankruptcy, but there's no joy either.'
The pandemic created thousands of business survival stories, but none more improbable—and riveting—than that of AMC Entertainment, the world’s largest theater chain. Adam Aron, chairman and CEO of AMC Entertainment, took us the behind-the-scenes on how he and his CFO Sean Goodman kept the firm out of bankruptcy—and why—and shared his thoughts on lessons learned for every leader.
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I want to take one step back to the really big question: Why did you not go bankrupt? It’s America. There’s no shame in Chapter 11, right?
Well, you said there’s no shame in bankruptcy, but let me tell you something, there is no joy in bankruptcy either. The bankruptcy court is not a fun place to be. I’m an executive who’s used to making decisions. If we had gone into bankruptcy, I would have to run every single decision by a bankruptcy judge. In addition, you know, we were very well advised. We had Weil, Gotshal as our attorneys. We had Alvarez and Marsal at our side in case we needed them in bankruptcy.
Even they would tell you that when you’re in bankruptcy, the fighting between the creditor groups, it’s a zero-sum game. That’s not a relationship crowd. It’s a transactional crowd. And they’re all playing for the last penny. So you spend a tremendous amount of time in bankruptcy court yelling at people and being yelled at. You spend a lot of time arguing about nickels, you spend a lot of time arguing about pennies. Yes, lots of companies can go through a bankruptcy process and get cleansed. You can get rid of some of your debt. You can get rid of some of your bad…in our case some of our bad theater leases.
But a lot of people are hurt in bankruptcy. Like, for example, all of our shareholders. Like, for example, not our first-lien debt holders, but our second-lien debt holders. And I had a fiduciary obligation to those people to do what I could to save their investment in our company.
We mentioned I ran Norwegian Cruise Line back in the early 1990s. Put aside that the pandemic has put them on their backside too, but pre-pandemic it was a very successful company. But back when I ran it, it was a turnaround situation and we were living with the threat of bankruptcy every day for the three years I ran that company before we accomplished the turnaround. We accomplished that turnaround without having to go into bankruptcy.
I remember telling my board in the spring of 2020 that I didn’t put my first company in a bankruptcy that I ran when I should have, and I’ll be damned if I’m gonna put the last company I’m gonna run into bankruptcy when I should have.
If you’ll indulge me one humorous story: I remember the Norwegian Cruise Line days. We had a 450-page bankruptcy filing that had been written, it was sitting on my general counsel’s shelf just in case. At that company back then, we did cash flow forecasting three times a day. We came in in the morning, we had so much cash in the bank. At noon or 1:00 we had so much money we had at midday. And at the end of day, we had so much money we had at the end of the day all based on what the travel agents were booking and giving us as advanced ticket sales for the future.
We managed our cash like we distributed our checks—in the same quantity as there was an inflow of revenue to pay expenses. But we had to prepare for bankruptcy back in those days just in case. I was sitting in my office in Miami with the lead partner around the Miami office for Weil, Gotshal, who had been brought in to brief me on what it’s like to go through Chapter 11. He was telling me how wonderful an experience it was, how cleansing it all was. He’s a lovely guy, by the way. His name was Oscar Cantu.
I remember saying to him, “Oscar, I hear what you’re saying about how wonderful bankruptcy is, but how come I think…” I listened to his whole story. “How come I feel like a little 10-year-old in a schoolyard out at recess and you’re a big old fat guy sitting in a pink Cadillac right off the schoolyard and the door to the front seat is open and there’s a big thing of candy on the front seat. And you’re saying, “Come on in kid. There’s a lot of candy in this pink Cadillac. You’re really gonna have a good time.”
At the risk of hiding the more colorful ending of the story, what would have happened to me if I had gone in that pink Cadillac is probably what happens to a lot of people who go into bankruptcy court. Let’s just say it often is a successful experience for the company, but it’s not a pleasant experience for the executives even if they come out of it stronger and wealthier than they went in. And a lot of people get hurt. A lot of people get hurt. A lot of people who we had responsibilities to would get hurt. So if we had to go into Chapter 11, I would have taken us there, but I was gonna do everything in my power to prevent it if we could.
The end of the story, we didn’t go into bankruptcy and our share price has gone from $2 a share in January to $36 a share at the moment. Our debt, which was trading at 15 cents of the dollar is now trading at par. So, those people who would have been hurt in the bankruptcy process were not hurt. I’m very proud that we kept us out of bankruptcy, and would strongly encourage the CFOs on this call, if you have the choice to go in or not go in, don’t listen to all of those lawyers and accountants and investment bankers who try to lure you into bankruptcy about how wonderful it is. Because what they’re not telling you is their fee streams go up astronomically if you file for bankruptcy. AMC going into bankruptcy, we probably would have paid accountants, bankers, lawyers over $300 million in fees. And those accounts and those bankers, those lawyers, they know that. So, they give you a lot of self-serving advice that says, “Go into bankruptcy,” because they have an enormous payday if that occurs.
Take us inside the restructuring now. How did you raise money? How did you get together, do the offering, all of that on the timescale that you had? You’re a theater company. Nobody knew where we were going. The vaccines, I remember talking to you around this time, nobody knew that the vaccines were going to work. Nobody knew that this was going to reopen. How do you do the offering? How do you get money to start flowing in? What did you do?
Well, it’s not an offering, it’s offerings, plural. We did it one step at a time. Our goal was to keep pushing off collapse until such time as we could get to the other side of the pandemic. When we shut the theaters in March, people were saying we were shut for a month or two. Well, then in July, people are saying, “The theaters will all be open by Labor Day.” By August, people are saying, “The theaters will all be open by Thanksgiving.” In October, they’re all saying, “Well, they’re not gonna be open by Thanksgiving. They’ll all be open by Christmas.”
So, you say, what do you do? Number one, you offer up ridiculous interest rates because there are people who wanna take risk. And we just did it one step at a time. So, in April, we raised $500 million through just a public debt offering, but the interest rate was, like, 12%, I think. We thought that was the highest interest rate we’d ever heard of, until what we paid to raise money in December, but we’ll get there.
In July, we went through a fairly sophisticated bond exchange with our second lien holders where they put up $300 million of cash and eliminated $555 million in debt, just wiped it out, and eliminated $200 million of cash interest expense in exchange for peak interest if we raise them higher in the capital stack, so better protected on collapse.
Then in late September, we knew that we’d raised all the debt we could raise. We know we needed to raise some equity. So, of course, we went to our banks and they said, “No one’s gonna give you equity.” It’s just too risky. And we’d heard of something called an at-the-money equity offering where you sell shares in the open market. So we started with 20 million shares, not knowing what would happen. Some of those advisors, the ones who wanted to put us into Chapter 11 were telling us, “You’re not gonna raise 50 cents for this at-the-money equity race.” We said, “Well, we don’t know we’re gonna raise it until we try.” And sure enough, we raised about $50 million. So, we tried it again with another 30 million shares, and we raised more money. We tried again with another 20 million shares.
In that effort from September 29 to early November, we raised $159 million. When all the experts said, “No one’s ever tried this before. We don’t think you’ll raise more than $25 to $50 million.” Well, we tripled it.
But it was very clear the theaters weren’t gonna reopen at Christmas. New movies were still being delayed. And we remember realizing raising enough money to last another three months is just not working. We now need to raise enough money to make it all the way to July of 2021 if we’re gonna avoid bankruptcy. So, in December, we announced publicly mid-December that we were gonna try to raise $750 million in the next 6 weeks, which was really important because if we didn’t succeed, we would have to file for bankruptcy in February. Well, we didn’t raise $750 million. We raised $1.8 billion. And we not only got the financial runway to last till July of 2021, but we got the financial runway to last till the summer of 2022.
So that’s how we got there. We got there one step at a time. We paid astronomical interest rates. I remember raising $100 million in December. This was debt, $100 million in December at a 17% interest rate. And as opposed to being outraged by it, I remember I was talking CEO to CEO with the head of a hedge fund that lent us the money, and I said, “You deserve 17% because you’re taking big risk. You’re taking almost equity-type risk even though it’s secured somewhere in the capital stack.” But it all worked. We raised the money, and we’re here to tell the tale.
Along the way, you had to have a difficult, uncomfortable conversation with Wanda because they were gonna get diluted in a big, big way, actually lose their control of the company. How did you approach that conversation? Maybe this is a model for the CFOs who are listening who have to have difficult conversations with their backers sometimes. How did you approach the conversation and how did you walk them through it?
It was pretty easy, actually. I’ll tell you what the lesson is: The lesson is build up credibility when you don’t need it so you’ve got a reservoir of goodwill, and then tell the truth and don’t sugarcoat anything.
Wanda was the Chinese company that owned 50% of our stock and had 80% of the votes. And if they fell below a 30% ownership, their class A/B stock went away and they went to one vote per share, which means they would lose control. Now, mind you, before we started selling all this equity, we had 100 million shares outstanding. That was in September 2020. By June of 2021, we had 513 million shares outstanding. So, we issued 413 million shares to the public. And, yes, Wanda was diluted, and they went from owning 50% to owning 20%. And they went from having 80% of the voting stock to having 20% of the voting stock. Back in December when I said we needed to raise all this money, we expected to raise it by selling equity if we could, and we didn’t know that we could raise equity. We still had our lawyers and bankers whispering in our ear, “You’ll never raise this money. You’ll never raise it.” But we raised it.
They didn’t speak English that well and my Chinese is non-existent. So we tended to communicate in writing, which then they could hit the translate button and it would instantly translate into Mandarin. And I remember saying to them in December of 2020, I did have this reservoir of goodwill built up. And they did trust me, and I always did tell them the truth. I said, “We only have four options. We need more money if we’re gonna survive. Option one is you provide it to us,” which they knew and I knew they couldn’t do because the Chinese government, as a public policy matter, had put in currency controls that made it almost impossible for Chinese companies to get money out of the country because the Chinese government wanted those companies to spend that money at home to prop up the domestic economy, not to move into their overseas assets. So, that was option one.
Option two is we raise all this money, we’re gonna dilute you badly, you’re gonna own 20% of the company, you’re gonna lose control. And by the way, your stock price will probably quintuple, so your asset that’s worth $200 million today, it’s probably gonna be worth $1 billion if we do this and we raise the money. You’ll be diluted, but the share price is gonna go up because right now the share price is priced as if we’re gonna go bankruptcy. That’s option two.
Option three is we go bankrupt. And if we go bankrupt, the share price is going to zero and your share ownership, which is currently worth $200 million, is worth nothing. And option four is, those three ideas are the only three I have. Do you have a fourth idea? And I mean that. I said that to them.
On option one, they couldn’t get us the money and there were no hard feelings about that. They wanted to give us some money, but they just couldn’t. We knew it, they knew it.
On option four, they have no other ideas. On option three, having their asset go down towards nothing was not good for them. So, their only choice was option two. And it was not a hard conversation because we told them the truth and we laid it out in an orderly way that made sense.
I remember to this day, the response I got, which is: “do what you need to do to save the company.” And good for them. They were a very responsible shareholder. And literally, six weeks later, the stock was trading at, you know, $10 a share, and four months later, they sold out their stock at about $14 a share when it was worth $2 a share in January. So, they made seven times their money by taking the risk on us that if we diluted them and raised enough money, the company could survive and their equity value would grow.
The way you came back is remarkable. I mean, everyone’s familiar with the meme stock story and how you really caught fire that way. But take us behind the curtain a little bit. This has never happened to companies before. You’re an experienced public company CEO. What the heck are you and Sean thinking is going on here with the “Diamond Hands” and the “Silverback” and all of this stuff is going on and the stock is shooting up? What do you make in this? Because this isn’t physics, suddenly. This is some other new set of laws, right?
This was some other new set of laws. It’s sort of like that conversation I have with my cruise line buddy. You spend your whole career planning for this moment and then the moment hits. I was the chief executive officer or a senior officer of eight different companies over the span of 45 years. I sort of thought I’d seen it all and done it all. None of us were ready for this, so, we learned on the fly.
Some days we would just marvel at what was going on around us. When I got out of business school, I got an MBA at a really good business school, and I joined Pan Am right out of business school right in the middle of airline deregulation. The airline industry was chaos back then. Right now we have four major airlines, United, American, Delta, Southwest and a few small ones. Back then, there were like 40 or 50 airlines that just dropped like flies. Anybody remember Eastern and Braniff and Continental and TWA? I like to say Pan Am, may it rest in peace. I love Pan Am. But my best joke, by the way: what was the difference between the Titanic and Pan Am? On the Titanic, they had a band. At Pan Am we didn’t have a band.
But I do remember in those days as a young 25-year-old coming out of school saying there’s opportunity. You just have to kind of have your eyes open and look for it. And I did great at Pan Am. Pan Am didn’t do great, but I did great.
So, fast-forwarding to what happened between April of 2021 and now, like most of public companies, we were 80% institutionally owned a year ago. Well, now we’re 80% individually owned. We have over 4 million shareholders who have an average position of about 100 shares each, a $3,000 or $4,000 investment company, but there are 4 million. Our share price took off and we were seeing all this. And our first thoughts were, share price is rising, let’s sell equity in the market because we had been successful in September, October, November doing it. We had success in December and January doing it. So, in May, we sold enough shares of 45 million shares at $10 a share, and we were thrilled. We raised more than $450 million.
But you got dinged for some of this stuff along the way, right?
No. We didn’t get dinged. I mean, every time we put out a press release that said we raised more money, that just made people more confident in the future of the company. What was going on is some of our individual shareholders had a theory that they could squeeze short sellers. So, some of them were saying, if you’re increasing the supply of stock in the open market, that it hurts the chances of that thing happening.
But our focus was doing right for the company, not participating in various theories of how market trading might work. And we knew that the most important thing for the company was raising cash. But what’s so fascinating is, I said we raised $450 million at $10 a share in the first two weeks of May. In the last week of May, two weeks later, we raised money at $20 a share. And a day after that we raised money at $30 a share. And two days after that, we raised over $500 million at $51 a share, just four weeks after we were thrilled that we had raised $400 million at $10 a share.
So, what we did during that time is there was enormous volume and our stock share price was rising, we sold equity in the market, and we raised $1.25 billion between May 1 and June 1. And that’s a huge extra $1.25 billion of cash that we put in the bank to buttress our liquidity going forward.
I do wanna ask specifically about your relationship with your CFO. How does a CFO make themselves a better CFO for their CEO? What are some tips you’ve seen? You’ve worked with a lot of CFOs along the way. What’s really key to the job and the relationship out of your experience?
Well, first of all, you have to have the right CEO because if you have a CEO who looks down on finance, that doesn’t help. If you have a CEO who doesn’t like to hear hard truths, it makes it much harder to be a CFO. So first piece of advice is work for the right person, because if you work for the wrong person, sometimes entities fail.
But the next comment is, I would tell you all that what I did with our largest shareholder, you should do with your CEO and board. You should build up a reservoir of goodwill and always tell the truth whether that’s a hard truth or not. Because the companies in trouble don’t have time for politics. They don’t have time for bad news to be hidden. What Sean and I did together, we used to joke that we’re in the foxhole together. Like, we compared notes every day, sometimes multiple times a day. And it wasn’t just, like, how much money we have in the bank. What was our strategy? What tactics were we gonna deploy?
We knew what we had to do. We had to raise enough cash to survive and stabilize the ship so that the run rate of losses was minimized to the extent we can, and we’ve made lots of tough decisions together. But if I was ill-advised by the CFO, it wouldn’t have worked.
And by the way, I have more confidence in my CFO than just about any executive I work with. Can you imagine if I’d lost confidence in my CFO how much more difficult it would have been to save the business? And my respect for Sean, our CFO, has only grown because what a great guy to have in the foxhole with me. He’s smart, articulate, strategic, tactical, but he also pulled no punches. He told me what I needed to hear. And he looked ahead, you know, while we were living day to day, by necessity, we’re also looking ahead three months, six months, 12 months, 18 months, 24 months, 36 months. And we knew what we had to do to survive that night, but we also knew what we needed to do to survive going forward. And since we really, in my view, we raised enough cash that we are gonna survive no matter what, now we’re in the mode of not just how we survive, but how do we thrive?
In our case, we have a unique problem. Our company’s market cap, in its history, was never more than $3 billion. And our market cap today is $18 billion or $19 billion. And we don’t have the EBITDA that we had in 2019. So some people note a disconnect there, and that’s why there are so many naysayers who, you know, continue to say our share price will plummet.
But they’re looking at the company of yesterday. They’re just assuming we’re gonna bring back the same company that we had in 2019. We know what that company was worth. It was never worth $19 billion. So the question that my whole management team, but especially Sean and I are now wrestling with, is what do we do with the war chest that we’ve been entrusted with by the shareholders to transform our company so that the company that we bring back out of the pandemic is a different company than the company we took into the pandemic? How do we transform AMC to grow into that $18 billion to $20 billion valuation that we’ve had since the spring?
What are you going to do? Obviously, I’m sure you’re about the world’s largest James Bond fan at this point and probably looking forward to Dune as well. But the movie business is changing. The people-go-anywhere business is still changing. So how do you have that conversation? How do you even start structuring a strategy conversation when there are that many things just up in the air about the industry itself?
Well, in our core industry, there’s a lot of cathartic change underway. No one exactly knows how that will play out, not the CEO of AMC, not the CEO of Disney. Nobody knows how it’s gonna play out. We know it could play out a number of different ways, but only fate will determine which way it actually plays out. But no matter how it plays out, just bringing back the AMC of old is not gonna be enough to sustain our current share price. So, we’re looking at how we can transform the company. Create new lines of business based on expertise that exists within the company. Potentially use some of that cash hoard to acquire other companies, not necessarily in the movie business. But that’s the degree of specificity that I can give you in a public forum since we’re not out there yet publicly disclosed on all the ideas that we have and what roads we may go down.
Well, I do wanna ask you this because it came up when we were just chatting informally before this thing. You’re 67 or so, you’ve done this a long time, but yet you’ve been able to pivot and pivot and pivot with all of this. Why you? Why is this guy that’s toward the end of his career rather than the beginning riding the wave of meme stocks and on Twitter and figuring that out and all of that? And you had told me a story and I wish you’d repeat it about some of your early days when you were, you know, working for a hotel chain and how you kind of learned a little bit about innovation there because I thought that was very telling and very interesting.
Well, first of all, what do you mean I’m at the end of my career? Goddamnit, no.
One part of it. One part of it. Certainly, we’re all…None of us are getting younger, Adam.
I may have celebrated my 67th birthday two weeks ago, but in my head, I’m only 34. Just write it down. But speaking of when I was 34. When I was 34, I was the chief senior vice president marketing of Hyatt Hotels. I worked for a man…my immediate superior was the president of Hyatt. I worked for him for four years, and that man had a greater impact on my professional career than anyone I’ve ever met.
He told me what he demanded of me when I was hired. He said, “I want six innovations a year from you. Every other month I wanna be able to…” These were in the days when there was something existed called newspapers. Remember the newspaper? And he said, “I wanna be able to run a full-page ad in The New York Times, The Wall Street Journal, USA Today, The Chicago Tribune and The L.A. Times, I want to run a full-page ad that says, ‘Hyatt introduces blank. Hyatt announces blank.’”
X
PART 2
Why #AMC Entertainment Avoided A Pandemic Bankruptcy For you Hedgies!
So it was a formative time in my career. I got trained that innovation was a good thing. I’ve never lost that thirst for innovation. Whatever stop I’ve made along the way and, you know, some stops were short as 19 months and some stops for as long as 10 years at one company or another, I always thought of myself as a champion for innovation and change. I actually think that being a champion of innovation is a really good thing. Now, not all innovations work. Not all risks pan out successfully. But if you’re good, you know, Babe Ruth only hit .300, right? They’re not all gonna work. But enough of them will work that the totality of the effort will be worth it. So I’ve always had an innovative mindset, always trying to stay current. Interesting that since my career came up through the marketing channel I was always interested in trying to figure out the underlying psyche of the consumer.
Consumer tastes change all the time, so if you really want to know how to sell to consumers, you’ve got to change with the times. And so, fast forward to today, in April when I realized for the first time, well, this year when I realized for the first time that our institutional investors had all headed for the hills and that our company was owned by individual shareholders, we all know it’s important for our companies to talk to their shareholder bases. Every company does it. But there aren’t that many companies that are 80% owned by 4 million people. So, how do you talk to 4 million people? Well, there’s this thing called social media. And back when I ran the Philadelphia 76ers for a couple of seasons, we were in the NBA fans room and Ben Simmons showed up last night at Wells Fargo Center, so we might have a point guard in Philadelphia this year. I’d never heard of Twitter until 2011, but there was a 25-year-old advisor I had who said, “You really need to tweet as the team CEO.”
I started tweeting the fan base and I used to tweet 10 times a day for two years. So, I got into this habit of understanding how do you talk to what I then thought was a large audience. I thought a large audience then was 30,000 people, but I tweeted with them 10 times a day and had a sense of how to work Twitter.
Well, fast forward to April of 2021, my Twitter base had eroded over time, but it’s just been growing astronomically since. And in the last five months, I’ve added almost 200,000 Twitter followers, but that’s not the big number. The big number is how much my tweets are read because people on Twitter, I tweet it to them and they retweet it to their followers. I had a tweet that I issued three weeks ago that was read 6.5 million times. That’s more than the population of 32 U.S. states. I’m now tweeting every single day. I’m not tweeting 10 times a day like I did…
With a minute or so that we have left, give us a thought to the CFOs who are here. Obviously, we’re all still going through so much disruption, so much change. Give us a thought about helping their companies through all of this as we head into 2022.
Sure. So, I’m gonna give your participants in the strategic CFO forum the same advice I gave my twin sons as they entered the workforce in their early 20s. Give it your all and have the highest sense of integrity that you possibly can have along the way. These are not easy times. We’re still in the pandemic. My company is still negative cash at the moment. It’s a good thing we raised a lot of money so we’re not at risk, but we’re negative cash. We’re not positive cash yet.
This is a company that was positive cash for decades and decades and decades without fail. Very reliable cash flows. Because these are perilous times, your company needs every ounce of smarts and energy that you have to offer. I don’t know your CEO, I don’t know who you work for, but at least if you want to be in an organization that thrives, I hope you’re working with one that doesn’t want you to be political, that doesn’t want you to put your finger up in the air and see which way the wind is blowing before you state your opinions.
You owe your enterprise your best thinking, your best work, and let the chips fall where they may. At the end of the day, going back to that wonderful conversation I had with that cruise line buddy of mine where we mutually agreed to our legacies were at stake, you know, that everything we did in our careers didn’t matter in comparison to this point right now where it would be harder than it’s ever been and the stakes would be larger than they’ve ever been, heretofore.
There’s going to be a day when we all die. There’s only one thing you take to the grave and it’s not money because the money goes to your spouse and your kids when you’re dead. What you take to the grave is your name and your reputation. I think those are sacred things, my name and my reputation. I want to put a series of accomplishments on the books. No matter what they say, they can’t say I did a bad job, they can’t say I didn’t give 100%.
So if I were giving advice to your CFOs, it’s work hard, be as smart as you inherently are. You didn’t get to this exalted position in your hierarchical ladder without being smart. Apply all of your smarts, all your energies. The stakes have never been graver. Now is when your organizations need you to shine and excel. As I said, you know, everybody on this Zoom call today, you’ve excelled your whole careers. That’s how you got to where you are now. Keep going. Your companies, your institutions, organizations, they need the best you have to offer more now than they ever have before.
https://twitter.com/Franks_Place_/status/1771320882113167590
https://twitter.com/Franks_Place_/status/1771321233985982896
🔥🩳🔥 $AMC DARK POOL MARGIN CALL! Short Squeeze Update
Ken Griffin is market maker hedge fund and has his own non registered dark pool. He’s personally worth 28.9 BILLION dollars by manipulating the market in his favor! How much did he donate to Biden! He runs the worlds biggest Ponzi scheme, Ken and Joe!
— Jerry Lindsay (@jerrylindsay69) September 24, 2022
BREAKING 🚨 $AMC crime scene 3.22.2024
— Eduard Brichuk (@EduardBrichuk) March 22, 2024
More than 40+ Minutes has passed not a single order has appeared on $AMC premarket today.
In the "time & sales" it shows 300 volume trade occurred at 4:02:17 at $4.220 yet it NEVER SHOWED UP.
Darkpool much???
Ken Griffin and Krabby Patty… pic.twitter.com/5jrR80nOth
The FICC has announced a new Sponsored Member of the GSD:
— M.B. (@741trey) March 22, 2024
BlackRock's Circle Reserve Fund - sponsored by Citigroup, who is repeatedly experiencing Money Market failures.
Coincidence? pic.twitter.com/yIcYNLnIfw
BTFP liquidity only reduced by -$17 billion this week. The large decreases begin next week and won't stop until April. https://t.co/9qCDkNCuCL
— Financelot (@FinanceLancelot) March 22, 2024
Financial regulators know many U.S. banks are over leveraged.
— kristen shaughnessy (@kshaughnessy2) March 22, 2024
"..Basel III endgame would increase capital requirements by 16% for impacted banks in the U.S., while the European Central Bank would increase theirs by 10%, and the Bank of England would get a 3.2% increase..."… pic.twitter.com/mhZrvpDzmR
NEW RECORD! $AMC SI going CRAZY!!
— 💎Practical Stocks🦍🚀 (@Practicalstocks) March 22, 2024
🔥37.37m SHARES SHORT🔥 pic.twitter.com/eEAkIJW1os
🔥🩳🔥 "FERRIS BUELER YOUR MY HERO!"
Oh The Desparation Of The Shorts Far & Near, Big (Doug "Liquidity Fairy" Cifu) & Teeny Tiny Little Ants
🔥🩳🔥
😂😂😂. Yeah ok troll. I will defend my family any way any time. Piss off. That asshole deserves that and more.
— Doug Cifu (@Dougielarge) March 21, 2024
Just an fyi the market is up nearly another 300 points and this pig #AMC is still red! Pathetic! #AMCNEVERLEAVING #AMCTheatres #AMCSTOCK #AMCNOTLEAVING @CEOAdam is a con artist https://t.co/GLnM8hTdj4
— Jersey Mike 🚀🚀🦧🦍 (@cameron10843698) March 21, 2024
Charles Schwab is NO LONGER allowing unsettled cash to purchase #Gamestop $GME shares...
— The Butcher of Wall Street Marcel Kalinovic (@BossBlunts1) March 21, 2024
Seems they expect a major price increase / recalling of shares.
Usually, only options and non-marginable securities can not be purchased with unsettled cash.
This means Schwab is no longer… pic.twitter.com/DfnUHKbIjo
Currently @ORTEX estimates 36.74m Shares sold short for $AMC.
— StonksBatman - 1-28-2021 (@StonksBatman) March 21, 2024
That is 2x the short interest of December 15th.
2x short interest in 3 months.
If continued at this rate we could see 293m shares sold short by December of this year.
I don’t think this shorting is sustainable. pic.twitter.com/AVDSqJcZ9O
🔥🩳🔥 #AMC Short Volume Summary for Mar 21
(not Short Interest)
📢📢📢📢🚨🚨🚨🚨👇👇👇👇👇💯💯
Today's Short Volume is 3,765,662, which is 70.02% of today's total reported volume.
Over the past 30 days, the average Short Volume has been 51.47%.
Trading volume on swap execution facilities reached a record $1.24 trillion in average notional value per day during February 2024. This was down 16.4% from the previous month but up 13% from the same month of the previous year. Compared to January 2024, trading was down in every sector.
Trading of interest rate swaps and other non-FRA rates products was $927.3 billion per day in February. This level was down 13.5% from January 2024 but up 15.9% from February 2023. Tradeweb had the largest share of trading volume with 65%. Tullett Prebon had the second highest share with 10.2%.
FRA trading reached $212.9 billion in average daily trading in February. This amount of daily trading was down 30.2% from the previous month but up 14% from a year ago.
Credit default swap trading averaged $34.6 billion per day in February. Bloomberg’s market share increased to 74.4% and Tradeweb’s share decreased to 17.6%.
Highlights from February 2024:
Worldwide volume of exchange-traded derivatives reached 16.28 billion contracts in February, the second highest level ever recorded.
This was down 2.7% from the record month of January 2024 but up 92.4% from February 2023.
Options continue to gain in popularity. Global trading of options reached 14.19 billion contracts in February, up by more than 126% from last year, with most of that trading taking place in the Asia-Pacific region. Global trading of futures reached 2.09 billion contracts in February, down 4.5% from the same month last year.
On a year-to-date basis, volume in the first two months of the year was 33.07 billion contracts, up 94.8% from the first two months of 2023. The majority of that increase came from equity index contracts.
Total options volume for the year so far was 28.68 billion contracts, up 127.3% from the previous year. Total futures volume was 4.39 billion contracts in 2023 so far, up 0.8% from 2022.
Total open interest at the end of February was 1.29 billion contracts. The February total was up 7.4% from January 2024 and up 13.8% from a year ago.
#AMC Short Volume Summary for Mar 21
— Frank's Place (@Franks_Place_) March 22, 2024
(not Short Interest)
📢📢📢📢🚨🚨🚨🚨👇👇👇👇👇💯💯
Today's Short Volume is 3,765,662, which is 70.02% of today's total reported volume.
Over the past 30 days, the average Short Volume has been 51.47%. pic.twitter.com/sVVF5zAKHm
Trading volume on swap execution facilities reached a record $1.24 trillion in average notional value per day during February 2024. This was down 16.4% from the previous month but up 13% from the same month of the previous year. Compared to January 2024, trading was down in every… pic.twitter.com/BLGjHeEK1d
— Frank's Place (@Franks_Place_) March 22, 2024
Highlights from February 2024:
— Frank's Place (@Franks_Place_) March 22, 2024
Worldwide volume of exchange-traded derivatives reached 16.28 billion contracts in February, the second highest level ever recorded.
This was down 2.7% from the record month of January 2024 but up 92.4% from February 2023.
Options continue to… pic.twitter.com/xBtZ6Py19G
🔥🩳🔥 #AMC illegal #NakedShorting is a conspira-
Wait a second...what the duck did this ape find?!
🚨 MOTLEY FOOL #NakedShorting EXPOSED!!! 🚨
#AMC #AMCAPES #AMCSTOCK
From their Innovation Long/Short Fund Supplement document (https://learnmore.1623capital.com/ils/register-your-interest):
"In jurisdictions where #NakedShorting is prohibited, if the Fund is unable to secure appropriate cover (1)
#AMC illegal #NakedShorting is a conspira-
— Christalball (@Christalball93) March 21, 2024
Wait a second...what the duck did this ape find?!https://t.co/ZVltfajwrr
🔥🩳🔥 $AMC MOASS IS IMMINENT! Short Squeeze Update
MOASS IS IMMINENT! Short Squeeze Update
🔥🩳🔥 The Below Tweets Are From The Above Video, Click Image To Expand Print/Images Or Play Video In Tweet
Charles Schwab is NO LONGER allowing unsettled cash to purchase #Gamestop $GME shares...
— The Butcher of Wall Street Marcel Kalinovic (@BossBlunts1) March 21, 2024
Seems they expect a major price increase / recalling of shares.
Usually, only options and non-marginable securities can not be purchased with unsettled cash.
This means Schwab is no longer… pic.twitter.com/DfnUHKbIjo
Currently @ORTEX estimates 36.74m Shares sold short for $AMC.
— StonksBatman - 1-28-2021 (@StonksBatman) March 21, 2024
That is 2x the short interest of December 15th.
2x short interest in 3 months.
If continued at this rate we could see 293m shares sold short by December of this year.
I don’t think this shorting is sustainable. pic.twitter.com/AVDSqJcZ9O
Margin calls from clearing houses are indeed a significant one in the context of financial stability.#Franks_Place_
— Frank's Place (@Franks_Place_) March 21, 2024
The paradox of margin calls making the financial system safer, yet potentially problematic during periods of panic, is a complex issue that regulators and market… pic.twitter.com/PFhfTexotb
The DTCC has removed the words ISSUER FAILURE from their MMI Fail notifications.
— M.B. (@741trey) March 21, 2024
It does not hide the fact that Big Banks are still navigating turbulent waters in the short-term debt arena. https://t.co/udWbtxrCzd pic.twitter.com/13hRhQHvG4
UBS expected to close thousands of smaller accounts
— kristen shaughnessy (@kshaughnessy2) March 21, 2024
"UBS Group AG is planning to shut smaller-value Credit Suisse accounts numbering in the low thousands at its Asia Pacific wealth management arm to exit relationships with poor returns, according to people familiar with the… pic.twitter.com/oOfaR8JppB
You could close your 200 share short position for $840
🔥🩳🔥 That's a famous quote from Chuck Prince, former CEO of Citigroup. He used this metaphor to describe the behavior of banks during the financial boom.
They knew the risky behavior couldn't last, but as long as the economy was still booming (the music was still playing), they felt they had to participate (dance). It's a stark reminder of the risks inherent in following the crowd, especially in financial markets.
Always important to do your own research and understand what you're investing in! 💡
Ex-CEO of Citigroup: "Things will get complicated when the music stops, especially with regard to liquidity." But you have to get up and dance as long as the music is playing.
https://twitter.com/Franks_Place_/status/1770562526436114574
🔥🩳🔥 WHY AMC WILL SQUEEZE GUARANTEED AND WHEN! - AMC Stock Short Squeeze Update
This is and always has been a psyop to get you to capitulate. Not for one second do I believe this is a one off, this is what’s happening. Paid to bash a stock, company and ceo. This has been and is happening with #amc and @CEOAdam and you as an investor!! #AMCNEVERLEAVING pic.twitter.com/IZofoJkt9b
— Icy-assistance (@Stonktard1) March 20, 2024
💯% truth!
— biotech_moose (@biotech_moose) March 20, 2024
At these levels short sellers SHOULD be covering and exiting #AMC with all that juicy profit, but they aren't. They know we will skyrocket into the thousands. No one holding is selling early after being made to wait 3+ years by petulant hedge funds! https://t.co/FHgJLElwh0
🔥🩳🔥 $AMC SHORTS ARE SCREWED BIG TIME! Short Squeeze Update
💯% truth!
— biotech_moose (@biotech_moose) March 20, 2024
At these levels short sellers SHOULD be covering and exiting #AMC with all that juicy profit, but they aren't. They know we will skyrocket into the thousands. No one holding is selling early after being made to wait 3+ years by petulant hedge funds! https://t.co/FHgJLElwh0
#AMC
— Frank's Place (@Franks_Place_) March 20, 2024
When The Cost to Borrow (CTB) rate for $AMC shares sees a significant increase, which could indicate a high demand from short sellers or a scarcity of available short shares
This situation often leads to a recall of shares by lenders to be lent out again at the new, higher… pic.twitter.com/bOJfZmP4d5
This news has nothing to do with $AMC, but because #AMC was tagged in it, it triggers the algo immediately. This is the effect of computer trading and how MSM uses press news to trigger a sell-off or buying. pic.twitter.com/rai4br0pQY
— Avi Harkishun (@AviHarkishun) March 19, 2024
#AMC #HYMC #MMTLP #GME #MULN
— Frank's Place (@Franks_Place_) March 20, 2024
Reverse Repo Operations pic.twitter.com/gJLPd49neK
Vanguard recently added big to their #AMC position. All their previous shares are out on loan. Fintel Feb 13 2024 data shows Vanguard (a declared passive owner) loaded more #AMC last Q.
— biotech_moose (@biotech_moose) March 19, 2024
VG realized shorts are borrowing more & more so they stepped up, they like the easy interest! pic.twitter.com/xoFvqhSG1w
🔥🩳🔥 $AMC is planning to manage its debt that's due in 2026 by possibly getting new terms that could have better interest rates than the current 10%.
Investors who bet against the company (short sellers) think they can outlast the regular investors, but many won't sell their shares even if prices are low. The belief is that AMC's financial situation will improve over time, and these investors are prepared to wait it out.
In the past, some tactics may have been used to pressure investors into selling, but this time, there's a strong resolve not to sell until certain truths come to light.
As the availability of cash (liquidity) decreases, banks might be more open to negotiating with AMC. The expectation is that AMC will restructure its finances sometime between this year and early 2025, which could lead to the company paying dividends to its shareholders as a reward for their support.
Companies typically don't pay off all their debt; instead, they manage it so they can reinvest their earnings to grow the business and potentially pay dividends. It's anticipated that AMC will renegotiate the terms of their 2026 debt to extend it further into the 2030s, similar to previous debt restructurings.
If this happens, it could pave the way for dividends to be issued, but the decision on timing will be up to the company's board.
https://twitter.com/Franks_Place_/status/1769713591890948468
🔥🩳🔥 Why is Citadel battling its lawyers to no end in order to maintain the availability of darkpools? Gary, any thoughts?
🔥🔥👇👇📣📣
Dark pools are legal and regulated by the #SEC, but they’ve sparked concerns from regulators before (and at-home traders more recently) because they can give the few institutional traders who execute the majority of dark-pool trades unfair informational advantages that can be used to front run trades.
Dark pools caught the eye of lawmakers after the $20 billion collapse of investment firm Archegos Capital Management rattled markets.
“Archegos’ meltdown had all the makings of a dangerous situation—largely unregulated hedge fund, opaque derivatives, trading in private dark pools, high leverage and a trader who wriggled out of the SEC’s enforcement,” Sen. Elizabeth Warren (D-Mass.)
SEC flagrantly and purposefully misled the judge. Is this the SEC that Gary and Brandon control, or is it another one?
They really are terrorists with money. After three years of 95% darkpool theft operations, nothing has been accomplished.
A statement made exclusively on Bloomberg by Gary Gensler stated that "90–95% of retail orders don't go through the lit exchange." "These orders are rerouted to dark pools rather than the NYSE," the SEC Commissioner declares.
#AMC #HYMC #MMTLP #GME #MULN@SEC @GaryGensler@SenWarren
— Frank's Place (@Franks_Place_) March 19, 2024
❓️❓️❓️❓️❓️❓️$AMC Why is Citadel battling its lawyers to no end in order to maintain the availability of darkpools? Gary, any thoughts?
🔥🔥👇👇📣📣
Dark pools are legal and regulated by the #SEC, but they’ve… pic.twitter.com/YPKJPZy1ae
🔥🩳🔥 KEN GRIFFIN WILL BE ARRESTED SOON! - AMC Stock Short Squeeze Update
U.S. Judge Orders Arrest of Hedge Fund Manager in $533 Million Ed-Tech Scandal.
— InvestorTurf (@InvestorTurf) March 17, 2024
A U.S. bankruptcy judge has issued an arrest warrant for hedge fund manager William Cameron Morton over allegations of concealing $533 million from the lenders of Byju's, an Indian education…
$GTII
— kristen shaughnessy (@kshaughnessy2) March 18, 2024
"Alpine Securities Corp. failed to meet its burden for pausing impending National Securities Clearing Corp. disciplinary proceedings while its appeal proceeds, the Tenth Circuit said in a case challenging the industry self-regulator’s authority.
Alpine, once among the… pic.twitter.com/iaBFZpziow
Did a Hedge Fund Lose A Billion Dollars Betting Against $MSTR?
— kristen shaughnessy (@kshaughnessy2) March 18, 2024
One Explanation For Bitcoin's $BTC Big Drop
"....However, there is also a rumor that reveals yet another hidden reason for the crash: a failed spread trade by a hedge fund that resulted in over a billion dollars in… pic.twitter.com/FWXcIa8sCu
Owner Defaults on $350 Million Loan
— kristen shaughnessy (@kshaughnessy2) March 18, 2024
"A pre-foreclosure action has been filed against Shorenstein Properties’ Garment District office building at 1407 Broadway after the firm defaulted on a $350M loan."https://t.co/1I5P5ESWN6 pic.twitter.com/MPgbt7IwI1
this puts us over 1 billion in a week that has defaulted its starting get your popcorn ready. 1 trillion set to renew this year in cre gl https://t.co/45MF6baeqH pic.twitter.com/0EQ8KF2vCl
— (Inspector)AMCBiggums (@AMCbiggums) March 19, 2024
🔥🩳🔥 Reverse Repo today
#AMC Off Exchange & Dark Pool Summary
Today's Off Exchange & Dark Pool volume is 2,395,076, which is 52.01% of today's total volume.
Today's Lit volume is 2,210,282, which is 47.99%.
Over the past 30 days, the average Off Exchange & Dark Pool volume has been 50.51%.
The average Lit volume has been 49.49%.
#AMC Ortex
#AMCDISTRIBUTION
👀👀📣📣👀👀
Reverse Repo today pic.twitter.com/fiGtsCTQ3u
— Frank's Place (@Franks_Place_) March 18, 2024
#AMC Off Exchange & Dark Pool Summary
— Frank's Place (@Franks_Place_) March 18, 2024
Today's Off Exchange & Dark Pool volume is 2,395,076, which is 52.01% of today's total volume.
Today's Lit volume is 2,210,282, which is 47.99%.
Over the past 30 days, the average Off Exchange & Dark Pool volume has been 50.51%.
The average… pic.twitter.com/LblUkSZHfz
#AMC Ortex #AMCDISTRIBUTION
— Frank's Place (@Franks_Place_) March 18, 2024
👀👀📣📣👀👀 pic.twitter.com/tZc0526Gq3
🔥🩳🔥 $AMC is planning to manage its debt that's due in 2026 by possibly getting new terms that could have better interest rates than the current 10%.
Investors who bet against the company (short sellers) think they can outlast the regular investors, but many won't sell their shares even if prices are low. The belief is that AMC's financial situation will improve over time, and these investors are prepared to wait it out.
In the past, some tactics may have been used to pressure investors into selling, but this time, there's a strong resolve not to sell until certain truths come to light.
As the availability of cash (liquidity) decreases, banks might be more open to negotiating with AMC. The expectation is that AMC will restructure its finances sometime between this year and early 2025, which could lead to the company paying dividends to its shareholders as a reward for their support.
Companies typically don't pay off all their debt; instead, they manage it so they can reinvest their earnings to grow the business and potentially pay dividends. It's anticipated that AMC will renegotiate the terms of their 2026 debt to extend it further into the 2030s, similar to previous debt restructurings.
If this happens, it could pave the way for dividends to be issued, but the decision on timing will be up to the company's board.
https://twitter.com/Franks_Place_/status/1769713591890948468
🔥🩳🔥 Brett Harrison, former head of FTX US, has made a long thread regarding FTX US and his time there.
In December, Unusual Whales spoke to SBF where he said tokenized shares of $AMC, $GME were backed 1:1.
Here is a video of Brett saying the same from Sept from a AMA with Reddit.
Brett Harrison, former head of FTX US, has made a long thread regarding FTX US and his time there.
— unusual_whales (@unusual_whales) January 15, 2023
In December, Unusual Whales spoke to SBF where he said tokenized shares of $AMC, $GME were backed 1:1.
Here is a video of Brett saying the same from Sept from a AMA with Reddit. pic.twitter.com/56FB1a2Ako
🔥🩳🔥 $AMC SHORTS NEEDS CASH TO BAILOUT! Short Squeeze Update
As of March 11Th The Bank Fund Term Program has
— Ȧ̵̰̹̤̫̦͚̝̘̓v𝖌Ape⏳ (@ApeAverage) March 14, 2024
Ceased Operations, & is No Longer Issuing Bonds...
Any1 look at the b.t.f.p Bank Term Funding Program just had a spike up last few days???👀@SylviaRey pic.twitter.com/GeN1wwbecT
US Banks See Large Deposit Inflows As Bailout Fund Expires, RRP Liquidity Plunges https://t.co/SgIMk2XyvS
— zerohedge (@zerohedge) March 15, 2024
The weekly chart shows selling is at its weakest point in 3 years and a break out to the buying side should be within weeks (once red turns white, then green).
— Che Hussee (@HusseeChe) March 16, 2024
Will see how they manipulate it this time. Very hard to manipulate larger time frames (weekly/monthly chart) pic.twitter.com/KDRjV0uhOT
#Amc,#Apes. One of the most important data is the tangible book, amc is now at only - 17 p. Share, see the progress for yourself. 2018 -66, 2019. -67, 2020 - 79, 2021. -76, 2022. - 39, - 17 2023. Could be 0 2024!!This means that credit positions are equal to debts. Let's go!! pic.twitter.com/O5Bt11v9IX
— Luis (@Luis6938) March 16, 2024
🔥🩳🔥 URGENT: ALL HEDGE FUNDS ARE COLLAPSING! - AMC Stock Short Squeeze Update
Hedge fund Brevan Howard is cutting 10% of its trading floor amid losses
— MacroEdge (@MacroEdgeRes) March 15, 2024
One red day and they blow up?
"...Citadel has made the case to resist, arguing that the rules requiring brokerages to keep records don’t apply to hedge funds and private equity, the people said...."
— kristen shaughnessy (@kshaughnessy2) March 14, 2024
"Top hedge funds and private equity firms including Citadel, KKR & Co. and Blackstone Inc. are discussing ways… pic.twitter.com/OQ7nBLK5P6
Citadel and its peers, such as Pershing, are indeed facing increased scrutiny. #AMC #HYMC #MMTLP
— Frank's Place (@Franks_Place_) March 14, 2024
🔥🔥🔥👇👇👇🔥🔥🔥
The concerns arise from the significant profits and the dominance of large multistrategy hedge funds in the market. These firms have been successful in recent… pic.twitter.com/rtSSuTtFTb
Between Dec 15-Feb 29 Short interest has only gone up. 40% of $AMC current SI came during this time.
— StonksBatman - 1-28-2021 (@StonksBatman) March 12, 2024
After taking each price high of each two weeks of report and multiplying by SI increase then getting the average divided by SI difference.
Minimum 40% $AMC SI = max $5.69 pic.twitter.com/7dHGiwNCjS
🔥🩳🔥 AMC Entertainment Holdings Inc. Upgraded To 'CCC+' From 'SD' Following Debt Exchanges S&P Ratings
📣📣📣👇👇👇📣📣📣
AMC completed a series of distressed exchanges to swap an aggregate $123 million of its second-lien notes due 2026 for common equity.
Additionally, the company repurchased $50 million of its second-lien notes due 2026 at an average discount of approximately 20%.
Therefore, we raised our issuer credit rating to 'CCC+' from 'SD' (selective default).
We also raised our issue-level rating on the second-lien notes to 'CCC-' from 'D'.
The negative outlook reflects our expectation that AMC's revenue will decline 8%-9% in 2024 due to a limited theatrical release slate, resulting in negative free operating cash flow (FOCF) and leverage around 8x.
Though marginally improved, we continue to view AMC's capital structure as unsustainable due to its substantial debt burden. AMC completed its debt-for-equity swaps, exchanging $123 million of its second-lien notes due in 2026 for common equity.
Additionally, the company repurchased the $50 million aggregate principal amount of its outstanding debt at an average discount of approximately 20%. The impact of these exchanges is marginally positive and will reduce the company's cash interest costs by roughly $17 million per year.
However, AMC maintains a heavy debt load, with roughly $4.65 billion in reported debt pro forma for the recent exchanges. Much of this debt bears high interest rates, which will likely lead to total reported debt interest costs of over $475 million in 2024.
These interest costs will likely prevent AMC from generating positive FOCF.
AMC's operating performance will decline over the next 12 months as theater attendance weakens in 2024. The domestic box office reached about $8.9 billion in 2023, driven by tent-pole films' strong performance.
However, we expect domestic box office revenue of $8.00 billion-$8.25 billion, or a decline of about 10%, in 2024. Our forecast incorporates a significant disruption to the theatrical release slate in 2024 as a result of the Writers Guild of America (WGA) and Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strikes that occurred in 2023.
Ongoing macroeconomic risks could also affect AMC's performance over the next 12 months. The uncertain economic outlook poses a potential risk to theatrical revenue. Historically, cinema attendance has been relatively resilient during economic downturns due to the relative affordability of this out-of-home entertainment option.
While we expect this trend to hold in general, the current state of the industry represents a unique set of challenges: average ticket prices are at an all-time high and consumers have never had more options for how to consume video content in the home. In the event of an economic recession, consumers will likely be increasingly sensitive to discretionary spending.
Consequently, it may prompt exhibitors to adjust their pricing tactics for tickets and concessions such that total revenue is less than currently planned.
The negative outlook reflects our expectation that AMC's revenue will decline 8%-9% in 2024 due to a limited theatrical release slate, resulting in negative FOCF and leverage around 8x. The outlook also reflects the risk that AMC could pursue additional subpar debt exchanges within the next 12 months.
We could lower the rating if we expect AMC will default within the next 12 months. This could occur if: The industry experiences further headwinds such that AMC's cash burn worsens and we become concerned about its liquidity position; or
The company pursues further subpar debt exchanges or any other notable form of debt restructuring.
We could revise the outlook to stable if:
👇👇👇💯💯💯👇👇👇
We expect the release slate to stabilize in the second half of 2024; and
We no longer believe there is a risk that AMC will pursue additional subpar debt exchanges.
#AMC #AMCTheatres
##AMCDISTRIBUTION
AMC Entertainment Holdings Inc. Upgraded To 'CCC+' From 'SD' Following Debt Exchanges
— Frank's Place (@Franks_Place_) March 16, 2024
S&P Ratings
📣📣📣👇👇👇📣📣📣
AMC completed a series of distressed exchanges to swap an aggregate $123 million of its second-lien notes due 2026 for common equity.
Additionally, the company… pic.twitter.com/meYn1cHegj
🔥🩳🔥 $AMC AT $72 LEVEL AGAIN! Short Squeeze Update
$AMC On-Balance Volume is nearly at the level where it went on its Monster June'21 Squeeze! LETS GOOOO 🔥🔥 pic.twitter.com/YrTGEjMSYA
— 💎Practical Stocks🦍🚀 (@Practicalstocks) March 16, 2024
Reverse Repo Operations
— Frank's Place (@Franks_Place_) March 15, 2024
📣📣📣👇👇👇📣📣📣
The reverse repo amount of $413.9 billion, which is a decrease of $70 billion from the previous day's $483.6 billion, indicates a significant reduction in the use of the Federal Reserve's reverse repo facility. @Franks_Place_ #AMC… pic.twitter.com/k1HTe59rR1
"On the state of hedge fund flows so far in 2024, an eVestment report out Wednesday put it bluntly: “This was not a great start to the year.”
— kristen shaughnessy (@kshaughnessy2) March 14, 2024
A lot more money was pulled from hedge funds than was invested in them at the start of 2024, which could be a warning for the months to… pic.twitter.com/PXkKPtURqP
$AMC has reached agreement with NBC to show some of their live daytime coverage of the 33rd Summer Olympics, Paris, July 27 to August 11 at 160 AMC U.S. theatres, per Adam Aron.
— unusual_whales (@unusual_whales) March 13, 2024
🔥🩳🔥 They don't want you to have financial freedom.
They want you to give in.
They want you to ignore the 11 beats in a row.
The growing numbers of shareholders.
The risk to short positions. #AMC
They don't want you to have financial freedom.
— Christalball (@Christalball93) March 15, 2024
They want you to give in.
They want you to ignore the 11 beats in a row.
The growing numbers of shareholders.
The risk to short positions. #AMC pic.twitter.com/y4hXrdSxSf
🔥🩳🔥 Reverse Repo Operations
📣📣📣👇👇👇📣📣📣
The reverse repo amount of $413.9 billion, which is a decrease of $70 billion from the previous day's $483.6 billion, indicates a significant reduction in the use of the Federal Reserve's reverse repo facility.
@Franks_Place_
#AMC #HYMC
This facility is used by financial institutions to deposit cash overnight, and the decline suggests that there is less need for such deposits, possibly due to better investment opportunities elsewhere or a decrease in excess liquidity in the financial system.
JPMorgan has mentioned a minimum threshold for reverse repo levels, which likely refers to the point at which the reduction in reverse repo usage could impact the financial markets or the Federal Reserve's monetary policy objectives.
If the reverse repo levels are approaching this threshold, it could signal a shift in market conditions or central bank policy. It's important to monitor these developments as they can have broader implications for interest rates and financial stability.
Reverse Repo Operations
— Frank's Place (@Franks_Place_) March 15, 2024
📣📣📣👇👇👇📣📣📣
The reverse repo amount of $413.9 billion, which is a decrease of $70 billion from the previous day's $483.6 billion, indicates a significant reduction in the use of the Federal Reserve's reverse repo facility. @Franks_Place_ #AMC… pic.twitter.com/k1HTe59rR1
🔥🩳🔥 Multi-manager firms like Citadel, Millennium Management, and Balyasny Asset Management have indeed faced scrutiny from investors and regulators over their use of leverage and crowded trades.
🚨🚨🚨📢📢📢🚨🚨🚨
These firms, which oversee more than $1 trillion, have been successful in the past several years, attracting new investors and competitors. However, their explosive growth has led to many of them piling into the same trades, causing unease among regulators, investors, and traders.
The concern is that these so-called “pod shops” could lead to widespread losses if all of them head for the exits at once.
Officials at the Securities and Exchange Commission and U.S. Treasury Department have warned that the firms’ favored basis trade could destabilize Treasury markets.
📢📢📢👇👇👇🍿🍿🍿
Some investors are even capping the amount of money they allocate to these funds, fearing blowups.
Despite these concerns, Ken Griffin, the founder of Citadel, has opposed any notion that his firm and rivals pose systemic risks and need more regulation.
He acknowledges that crowded trades could lead to a joint 10, 15, 20% hit to their equity, calling such a drop "painful, but not systemic".
In summary, while multi-manager firms have been successful in recent years, their use of leverage and crowded trades has raised concerns among investors and regulators about potential systemic risks.
This has led to increased scrutiny and calls for more regulation.
That has built unease among regulators, investors and traders over these so-called pod shops. And while Citadel's billionaire founder has vocally opposed any notion that his firm and rivals pose systemic risks and need more regulation, even he acknowledges that crowded trades could lead to widespread losses if all of them head for the exits at once.
As of midyear, there were 55 pod shops — multistrats and single strategy — overseeing $368 billion, with about half that amount controlled by the five biggest firms, according to a September Goldman Sachs Group report. That's up from 29 firms running a combined $149 billion in 2018.
"We are in the risk-taking business," Citadel spokesman Matt Scully said in a statement. "Our investors expect us to deploy their capital against the most attractive opportunities we see in the market."
#AMC #HYMC #MMTLP
— Frank's Place (@Franks_Place_) March 14, 2024
Multi-manager firms like Citadel, Millennium Management, and Balyasny Asset Management have indeed faced scrutiny from investors and regulators over their use of leverage and crowded trades.
🚨🚨🚨📢📢📢🚨🚨🚨
These firms, which oversee more than $1 trillion,… pic.twitter.com/RlwOxyMvi5
🔥🩳🔥 Since the beginning of this #AMC journey, one point has remained consistently true.
If this stock were truly as bad of an investment as they want us to believe, they wouldn't be so convicted in pressuring us to sell.
Think about that!
When there’s an enemy, you’re on the right path.
What level are we?
Remember that every seller has a buyer at the end of every transaction. Who are we expected to sell to if the stock is garbage? Why would anyone care to buy it?
In fact, if shorts truly closed their positions during the sneeze, then ideally shorts would want us to hold the stock to 0.
Their goal should be accomplished if they closed their positions and made us bag holders. They should have moved on by now, but they're obsessed with getting us to sell The reason is obvious, our stock holds value Nobody would pressure you into selling worthless stock.
Nobody in 2008 was pressured into rethinking their investment in the housing market. Yet, because I hold AMC, I get DM's like this. Never have I seen complete randos online, and been so concerned with the way I manage my money Buy, Hold.
Since the beginning of this #AMC journey, one point has remained consistently true.
— Frank's Place (@Franks_Place_) March 15, 2024
If this stock were truly as bad of an investment as they want us to believe, they wouldn't be so convicted in pressuring us to sell.
Think about that!
When there’s an enemy, you’re on the… pic.twitter.com/acIDjsllmN
🔥🩳🔥 $AMC RISE AGAIN! SHORTS INCREASE LEVERAGE! Short Squeeze Update
#AMC is going to rise again. Otherwise they wouldn't spoof, illegally short, bash and route orders to drop price. They spend a lot to keep these scams running. It's a battle of attrition. As more apes join army, the shorts can't contain buying pressure. imbalance will increase
— Christalball (@Christalball93) March 14, 2024
— M.B. (@741trey) March 14, 2024
"Hedge Funds Ramp Up Leverage To Near Record Highs To Juice Returns"
— kristen shaughnessy (@kshaughnessy2) March 13, 2024
"Hedge funds' use of leverage in equities trading is near record levels after debt-fueled strategies ballooned in recent years and an upturn in financial markets prompted riskier bets, according to two banking… pic.twitter.com/3LBW2jpLMz
BREAKING NEWS
— Gold Telegraph ⚡ (@GoldTelegraph_) March 14, 2024
MORE COMPANIES HAVE DEFAULTED ON THEIR DEBT IN 2024 THAN IN ANY START TO THE YEAR SINCE THE GLOBAL FINANCIAL CRISIS
You surprised?
Two theater chains showing same content. Yet $AMC is DOWN? Nah!!!
— 💎Practical Stocks🦍🚀 (@Practicalstocks) March 13, 2024
🤔🙄🤡🤡🤡 pic.twitter.com/PnZIt0cVr4
🔥🩳🔥 THIS CHART PROVES AMC IS ABOUT TO SQUEEZE! - AMC Stock Short Squeeze Update
🔥🩳🔥 AMC Entertainment Holdings, Inc. Provides Settlement Notice
https://www.amctheatres.com/corporate/media-center
🔥🩳🔥 $AMC & ZOOM video partnership. DFV #ChokeOnThat
Yet another revenue stream
#AMCTheatres #APESNOTLEAVING $$$ A$AMC & ZOOM video partnership. DFV #ChokeOnThat pic.twitter.com/qxtCrub0Us
— Christy(Michelle H) 🦍🙌💎🚀 (@rambo43_hahn) March 14, 2024
🔥🩳🔥 #OfficialSpoofReport Day 147
Illegal #spoofing orders by #GoldmanSachs, Virtu, Citadel, Clear St, B Riley, Keybanc, DA Davison and many more hedgecrooks #AMC #IYKYK #christalballexposures
#OfficialSpoofReport Day 147
— Christalball (@Christalball93) March 14, 2024
Illegal #spoofing orders by #GoldmanSachs, Virtu, Citadel, Clear St, B Riley, Keybanc, DA Davison and many more hedgecrooks #AMC #IYKYK #christalballexposures pic.twitter.com/L1j8CPCnFu
🔥🩳🔥 Exciting programming news, given our long desire to increase having live sports on our big screens.
AMC has reached agreement with NBC to show some of their live daytime coverage of the 33rd Summer Olympics. Paris. July 27 to August 11. At 160 AMC U.S. theatres.
The Olympics!
Exciting programming news, given our long desire to increase having live sports on our big screens. AMC has reached agreement with NBC to show some of their live daytime coverage of the 33rd Summer Olympics. Paris. July 27 to August 11. At 160 AMC U.S. theatres. The Olympics! pic.twitter.com/GKANnMlj3A
— Adam Aron (@CEOAdam) March 13, 2024
🔥🩳🔥 $AMC BEATS SHORT SELLERS! AMC SECRET! Short Squeeze Update
** AMC Entertainment Set to Recover $3.3 Million in Preliminary Court Settlement **
— InvestorTurf (@InvestorTurf) March 13, 2024
In a significant development for AMC Entertainment Holdings, Inc. (NYSE: AMC), a New York federal court has preliminarily approved a settlement that would see the company recover $3.3 million.…
#amc whoever said AA is sitting back ...exhibit A. Silence doesn't mean anything. It means he can't legally make comments. Law 101. https://t.co/EcASHsKxTy
— Ferda (@BartBush1013) March 12, 2024
I'll let you all in on a secret. There's a chance $amc will beat q1 from last year, even though the box office will be down by $200M or so domestically.
— RetailStock (@StockRetail) March 13, 2024
Think about that for just a moment. Lose around a half a billion in global box office but do BETTER. Do you see the impacts of…
Everything coming together that we predicted years ago. Just a waiting game now. #AMC improving. Shorts more desperate than ever. Colluding together. Using loopholes, crypto scams, corrupt regulators to manipulate us daily. Awareness growing. Apes fighting back!
— Christalball (@Christalball93) March 13, 2024
This explains why they made the quarterly futures contracts for #GME & #AMC back in Jan of 2021 to control the stocks from ever squeezing
— 🤙🏼 Hang Loose 🤙🏼 (@HangLoose1337) March 13, 2024
🤔🤔🤔🤔🤔🤔 https://t.co/0rx6S5w9L2
🔥🩳🔥 At the end of the day, this simple $AMC graph says it all.
At the end of the day, this simple graph says it all. pic.twitter.com/J8Kt6cUtx9
— Peter R Hann (@PeterRHann1) March 12, 2024
🔥🩳🔥 Brett Harrison, former head of FTX US, has made a long thread regarding FTX US and his time there.
In December, Unusual Whales spoke to SBF where he said tokenized shares of $AMC, $GME were backed 1:1.
Here is a video of Brett saying the same from Sept from a AMA with Reddit.
Brett Harrison, former head of FTX US, has made a long thread regarding FTX US and his time there.
— unusual_whales (@unusual_whales) January 15, 2023
In December, Unusual Whales spoke to SBF where he said tokenized shares of $AMC, $GME were backed 1:1.
Here is a video of Brett saying the same from Sept from a AMA with Reddit. pic.twitter.com/56FB1a2Ako
🔥🩳🔥 The latest OBV value for AMC was 201 million
(205 on another site)
On Balance Volume (OBV)
The concept behind the indicator: volume precedes price. OBV is a simple indicator that adds a period's volume when the close is up and subtracts the period's volume when the close is down.
A cumulative total of the volume additions and subtractions forms the OBV line. This line can then be compared with the price chart of the underlying stock to look for divergences or confirmation.
A rising volume can indicate the presence of smart money flowing into a stock.
A rising (bullish) OBV line indicates that the volume is heavier on up days. If the stock price is likewise rising, then the OBV can serve as a confirmation of the price uptrend. In such a case, the rising price is the result of an increased demand for the stock, which is a requirement of a healthy uptrend.
If stock prices are moving higher while the volume line is dropping, a negative divergence is present. This divergence suggests that the uptrend is not healthy and should be taken as a warning signal that the trend will not persist.
#AMC #HYMC #MMTLP #GME #FranksPlace
— Frank's Place (@Franks_Place_) March 7, 2024
Amc Entertainment Holdings Stock Volume Indicators On Balance Volume
The latest OBV value for AMC was 201 million
(205 on another site)
On Balance Volume (OBV)
The concept behind the indicator: volume precedes price. OBV is a simple… pic.twitter.com/TpDcRlL2fH